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Subject for Loss Models :

A guide that provides in-depth coverage of modeling techniques used
throughout many branches of actuarial science, revised and updated

Now in its fifth edition, Loss Models: From Data to Decisions puts the
focus on material tested in the Society of Actuaries (SOA) newly revised
Exams STAM (Short-Term Actuarial Mathematics) and LTAM (Long-Term
Actuarial Mathematics). Updated to reflect these exam changes, this
vital resource offers actuaries, and those aspiring to the profession, a
practical approach to the concepts and techniques needed to succeed in
the profession. The techniques are also valuable for anyone who uses
loss data to build models for assessing risks of any kind.

Loss Models contains a wealth of examples that highlight the real-world
applications of the concepts presented, and puts the emphasis on
calculations and spreadsheet implementation. With a focus on the loss
process, the book reviews the essential quantitative techniques such as
random variables, basic distributional quantities, and the recursive
method, and discusses techniques for classifying and creating
distributions. Parametric, non-parametric, and Bayesian estimation
methods are thoroughly covered. In addition, the authors offer practical
advice for choosing an appropriate model. This important text:

• Presents a revised and updated edition of the classic guide for
actuaries that aligns with newly introduced Exams STAM and LTAM

• Contains a wealth of exercises taken from previous exams

• Includes fresh and additional content related to the material required
by the Society of Actuaries (SOA) and the Canadian Institute of
Actuaries (CIA)

• Offers a solutions manual available for further insight, and all the
data sets and supplemental material are posted on a companion site

Written for students and aspiring actuaries who are preparing to take
the SOA examinations, Loss Models offers an essential guide to the
concepts and techniques of actuarial science.